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The International Olympic Committee has broken with 130 years of tradition by deciding to pay athletes to compete at the Olympic Games. The IOC revealed on Wednesday it had set up a $140m (£106m) fund that would pay a “fit for the future” grant of $10,000 to every athlete who competes in a Summer or Winter Games, starting with the 3,000 who took part in Milano-Cortina.

The grant will then be paid to the 11,000 athletes at the Los Angeles Games in 2028 and for all future Olympics.

There has been growing athlete pressure on the IOC, which has reserves of nearly $5bn, to directly reward the stars of the show.

Pau Gasol, who is the head of the IOC’s Athletes’ Commission, said: “This grant will be available to every Olympian, not just medal winners, not just athletes from certain countries. Every Olympian, because while every athlete’s journey is different, every Olympian has made sacrifices to reach the Olympic stage, years of dedication, years of hard work, years of believing in a dream.”

The IOC said athletes would have to apply for the grant for payment about six months after the Games, provided they had shown to have respected the Olympic charter and not committed a doping offence. However, it rejected calls from athletes to also be paid prize money at the Olympic Games, something only World Athletics among governing bodies endorses.

“Let’s let it be clear, this is not prize money,” said Gasol. “This is about recognising the journey and the commitment that it takes to become an Olympian.

“It is about honouring that every Olympian is part of our Olympic community, those who have come before us and paved the way, so that current and future generations of Olympians can benefit. I know this initiative will make a real difference in the life of many Olympians around the world.”

The news was welcomed by Sebastian Coe, the head of World Athletics. “As a very past member of an athletes’ commission, it’s a very proud day for me,” he said. “I recognise there are still some details to be thrashed out around delivery, around scope, around criteria. But this is a historic moment for the movement and I’m absolutely delighted to be in the room when this has been announced.”